🛒 Full carts, mixed bags

…and J. Pow’s big Jackson Hole speech Dominic Valente/Getty Images Just can’t get enough   Sponsored by Hey Snackers, The FTC has announced a rule that forbids “misuse of fake social media indicators.” Think: buying followers and likes to get brand deals. [Fake influencers]( are shaking. US stocks [rallied]( last week with the S&P 500 notching its [biggest weekly gain]( of the year (up 4%). Investors were heartened by cooling inflation, warming consumer sentiment, and hot retail sales. This week all eyes are on Fed Chair Powell’s Jackson Hole speech. 🎙️Never gonna quiz you up: We promise that the link to our [Snacks Seven]( quiz won’t Rickroll you. Test your biz-news knowledge after trying the first Q: - What’s the first NFL franchise to be valued at over $10B? ([Check your answer.]()   FULL-CARTS [American shoppers have clear eyes and full carts — and retailers think they can’t lose]( Gonna pop some tags… Fresh #s last week painted a picture of Americans’ spending habits. The gist: they’re spendin’. Retail sales surged 1% last month, 3x more than expected, as consumers splurged on big-ticket items like cars and electronics. Stocks jumped after news of the July spending rebound (retail sales had ticked down in June). Walmart reported the same vibe last week: the world’s largest retailer boosted its annual forecast after [unloading]( 5% quarterly sales growth (online sales jumped 20%). - Shoppers aren’t just buying groceries: Walmart’s merch sales (sun dresses, air fryers, plastic plants) grew for the first time in nearly three years. - Treasure hunt: Earnings from discount rivals Target, Macy’s, Ross, and TJ Maxx this week could boost or tame retail hype. I’m working late… cuz I’m in retail. Retailers have reason to feel optimistic: inflation’s continued to cool and interest rates are expected to come down, which could give wallets more wiggle room. Walmart, Target, and Best Buy have hosted [Prime Day-rivaling]( summer sales events or cut prices on thousands of items. Economists have reined in their [recession fears](, with most predicting a soft landing. But it’s not all rosy: Home Depot slashed its annual sales forecast and warned of weaker spending to come after consumers cut back on big renovation projects. As Americans’ credit-card debt hits a record $1.1T and the labor market cools, a spending pullback could be in the carts. THE TAKEAWAY Spending is a mixed shopping bag… It’s hard to tie [a neat bow]( on all American consumers. A boost in some retailers’ sales could indicate that wealthier shoppers are trading down (Walmart said most of its growth came from higher-income households). Meantime, lower-income shoppers might be continuing to tighten their budgets — because cooling inflation ≠falling prices. To rev up demand, retailers are stocking up extra early for the holiday season (#summerween). [Read this online]( Sponsored by EnergyX The Lithium Boom Did you know… It takes 10,000 iPhone batteries worth of Lithium to make 1 EV? With 350M+ EV sales projected by 2030, demand for Li is set to soar – and current extraction methods can’t meet it. So when [EnergyX revealed that their technology could extract 300% more lithium than traditional methods](, investors everywhere took note. Since then, they’ve: - Earned $100M in strategic investments from General Motors, POSCO, and others - Acquired a 107,500-acre Chilean mining asset with up to 9.7M tons of lithium - Announced Project Lonestar, a US plant targeting 25,000 tons/yr production Now, [EnergyX]( is accepting shareholders for a limited time. This is a unique opportunity to invest on the ground floor as the company is set to unlock a massive lithium supply. [Learn more about becoming an EnergyX shareholder here.](* Sponsored by EnergyX The Lithium Boom Did you know… It takes 10,000 iPhone batteries worth of Lithium to make 1 EV? With 350M+ EV sales projected by 2030, demand for Li is set to soar – and current extraction methods can’t meet it. So when [EnergyX revealed that their technology could extract 300% more lithium than traditional methods](, investors everywhere took note. Since then, they’ve: - Earned $100M in strategic investments from General Motors, POSCO, and others - Acquired a 107,500-acre Chilean mining asset with up to 9.7M tons of lithium - Announced Project Lonestar, a US plant targeting 25,000 tons/yr production Now, [EnergyX]( is accepting shareholders for a limited time. This is a unique opportunity to invest on the ground floor as the company is set to unlock a massive lithium supply. [Learn more about becoming an EnergyX shareholder here.](*   EVENTS Coming up this week Coachella for central bankers… Fed Chair Powell is set to speak on Friday at the annual Jackson Hole economic meetup. He could shed light on the Fed’s next moves after last week’s key inflation data: consumer-price inflation fell to its slowest pace since 2021, and producer prices also came in cool. Slowing inflation + a cooling labor market has made [traders certain]( that the Fed will start trimming interest rates in September. Now they’re betting on how big the cut will be, and they’ll be dissecting Powell’s every word at Jackson Hole. Packin’ on the blush… for beauty earnings this week. Estée Lauder topped estimates in May, posting sales growth after two quarters of declines. The La Mer and MAC parent benefited from strong skin-care demand and reviving “travel retail” (think: Duty Free) in Asia. But Estée slashed its annual outlook, expecting sales in China to stay muted. CoverGirl and Kylie Cosmetics parent Coty saw Q3 sales growth as shoppers splurged on its premium fragrances from Burberry and Marc Jacobs. Wall Street expects both beauty titans to report a glow-up this week.   ZOOM OUT Stories we’re watching Breaking up is hard to do… The DOJ is considering what to do with Google after a federal judge this month [ruled]( it had an illegal monopoly over online search. One option: breaking up the search giant that’s commanded 90%+ of the market since 2009. A break-up could force Google to divest from Chrome and Android OS, but antitrust experts said that’s [unlikely](. More plausible: Google may have to end the multibillion-dollar deals that make it the default search engine on millions of devices. Google paid Apple $20B in 2021 to be the iPhone default. Blockchain the vote… Crypto insiders and Democratic lawmakers gathered last week to boost the industry and the campaign of VP Kamala Harris. The “Crypto4Harris” [town hall]( scrambled the narrative that the crypto constituency (think: HODLers, VCs, developers) is united in its support of former Prez Trump, who’s [embraced]( bitcoin. Harris may be open to the overtures: her campaign brought on an ex-Binance adviser and a former Ripple board member. And at the town hall, Democratic Sen. Chuck Schumer said pro-crypto legislation could be signed into law this year.   ON SHERWOOD [So you invested in Berkshire Hathaway: What did you buy?]( Berkshire Hathaway’s Assets: Railroads. Energy. Insurance. $277 billion in cash. $300 billion in stocks. Patience. [Read More.](   What else we're Snackin' - Nearly a tenth of US homes were worth [$1M or more]( in June. - “Fortnite” parent Epic Games [launched]( its first app store. - The global tattoo biz is [booming]( with 20K+ parlors in the US alone.   Snack Fact of the Day [This earnings season, US companies reported the biggest spike in profits since 2021](   This Week - Monday: Democratic National Convention opens. World Humanitarian Day. Supermoon visible. Earnings expected from Estée Lauder and Palo Alto Networks - Tuesday: Earnings expected from Lowe’s, Medtronic, XPeng, La-Z-Boy, and ZTO Express - Wednesday: FOMC July meeting meetings published. Air Guitar World Championships begin. Earnings expected from Target, Macy’s, TJX, Zoom, and Urban Outfitters - Thursday: US initial jobless claims and existing-home sales. Jackson Hole Economic Policy Symposium opens. Earnings expected from Baidu, Peloton, Advance Auto Parts, BJ’s Wholesale Club, TD Bank, Workday, Intuit, Ross Stores, and Cava - Friday: New-home sales. Fed Chair Powell speaks at Jackson Hole symposium. Earnings expected from Gold Fields Authors of this Snacks own bitcoin and shares of: Alphabet, Apple, and Walmart Advertiser’s disclosures: * Past performance is no guarantee of future results. Start-up investments are speculative and involve a high degree of risk. Those investors who cannot afford to lose their entire investment should not invest in start-ups. Companies seeking startup investment tend to be in earlier stages of development and their business model, products and services may not yet be fully developed, operational or tested in the public marketplace. There is no guarantee that the stated valuation and other terms are accurate or in agreement with the market or industry valuations. Further, investors may receive illiquid and/or restricted stock that may be subject to holding period requirements and/or liquidity concerns. This is a paid advertisement for EnergyX’s Regulation A+ Offering. Please read the [offering circular]( and [related risks]( at [invest.energyx.com]( DealMaker Securities LLC, a registered broker-dealer, and member of FINRA | SIPC, located at 105 Maxess Road, Suite 124, Melville, NY 11747, is the Intermediary for this offering and is not an affiliate of or connected with the Issuer. Please check our background on FINRA's BrokerCheck.   [Instagram]( [Twitter]( [Sherwood Logo]( Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate... 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